Entries by Ali Jaffery

The Basics of Pre-payment Privileges

The prepayment privileges are included in most mortgages. They allow you to pay off your mortgage faster and reduce your interest costs. Each lender has their own prepayment privileges, some have up to 15%, 20% + 20%, double up, lump sum, etc. Let us review that 20 + 20 privilege. It allows an annual mortgage […]

Get Back by Going Green and Giving Back to the Environment

If you recently bought a property with less than 20% as down payment you paid a default insurance premium. Luckily the major insurers in Canada, Canada Mortgage and Housing Corporation (CMHC), Genworth, and Canada Guaranty have programs that pay you back for your energy efficient property. These programs were introduced to encourage Canadians to make […]